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  3. Consultation paper: Proposed exemption for same class offers of ASX NZX-quoted financial products

Consultation paper: Proposed exemption for same class offers of ASX NZX-quoted financial products

Page last updated: 17 Dec 2018

First published 23 May 2018 

Final date for submissions

5pm, Wednesday 13 June 2018

 (this consultation has concluded)

Consultation documents

Consultation paper: Proposed exemption for same class offers of ASX NZX-quoted financial products 

Draft Notice: Proposed exemption for same class offers of ASX NZX-quoted financial products

Submission form

Feedback form

E-mail for submission consultation@fma.govt.nz (please use the title of the consultation paper for the subject line)
Resulting document

FMC (Same Class Offers ASX/NZX-Quoted Financial Products) Exemption Notice 2018

Update

17 December 2018

Following our consultation, there is now an exemption in place. The notice provides exemptions for offers of financial products of the same class as ASX-quoted financial products in cases where the ASX-listed issuer has a secondary listing with NZX on an equivalent basis as the same class offers exclusion in Schedule 1 of the FMC Act, with modifications that enable Australian issuers operating under Australian regulatory requirements to give cleansing notices to ASX and NZX.

If you have questions, please contact us at questions@fma.govt.nz 

 

We are consulting on our proposed exemption to allow for same class offers of ASX-quoted financial products of ASX/NZX-listed issuers on an equivalent basis as the same class offers exclusion in Schedule 1 of the FMC Act. 

We propose an exemption from Part 3 (Disclosure) and Part 4 (Governance) of the FMC Act accompanied by a term stating that offers made in reliance on the exemptions will not be regulated offers.

It will apply to ASX-quoted products of ‘exempt issuers’ that are on ASX’s Official List and have a secondary listing with NZX.

Please send your feedback to consultation@fma.govt.nz (please use the title of the consultation paper for the subject line).

Submissions closed 5pm, Wednesday 13 June 2018.